Ann: Azimuth Consolidates Land Position in Guyana, page-3

re: Ann: Azimuth Consolidates Land Position i... I don’t quite know what to make of these purchases. I guess we’ll have to wait until the next quarterly cash flow report to see how much they cost, and a year or two (or longer) to see what they’re worth.

My initial thought was: doesn’t AZH have enough land already, and shouldn’t it be focussing its efforts on exploring and evaluating what it already has, rather than more land acquisition?

I thought about the vast East Omai holdings – waiting to be explored. What’s happening there? Is the sand cover making it difficult to work out where to drill? Is this why they’re buying more land, because they’re not confident about getting results in East Omai?

I also had the thought that AZH is unlikely to be getting these new properties cheaply, with the gold price at $1700/oz and Guyana now well and truly on everyone’s radar as a gold destination.

On the plus side, I thought the company is making a statement. That it likes what it already has in Guyana, and wants more. This shows ambition and a degree of confidence. And I have to say the map of AZH’s Guyanan land holdings makes impressive viewing.